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Sandwichman — “I’m not sure I follow the arithmetic here.”

Summary:
All of the above, of course, is simply the fleshing out of assumptions. We assumeddiminishing productivity in the last hours, we assumed heightened productivity from a shorter working week and we assumed declining marginal utility of goods and services produced. Finally, we assumed a preference for free time over a vanishingly small increment of total income. The point is that each of these assumptions were relatively modest but when combined "add up" to a rather substantial cumulative result. Econospeak"I’m not sure I follow the arithmetic here." Sandwichman

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All of the above, of course, is simply the fleshing out of assumptions. We assumeddiminishing productivity in the last hours, we assumed heightened productivity from a shorter working week and we assumed declining marginal utility of goods and services produced. Finally, we assumed a preference for free time over a vanishingly small increment of total income. The point is that each of these assumptions were relatively modest but when combined "add up" to a rather substantial cumulative result.
Econospeak
"I’m not sure I follow the arithmetic here."
Sandwichman
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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